A key factor driving the growth of the xenon flash lamp market is the growing demand from various industries. Xenon flash lamps can provide continuous spectrum, which is a major factor driving the xenon flash lamp market growth and is thus anticipated to create lucrative opportunities for revenue generation in the forecasted period.
The spectral characteristics provided by these lamps is continuous and can range from IR to UV, thus replicating natural sunlight and driving their demand from various industries.
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Use of xenon flash lamps in precision farming applications is one of the newest xenon flash lamp market trends. Properties like light intensity, short pulses, and compact design make these lamps suitable for imaging systems deployed in drones and satellites used in precision farming.
However, there is a continuous threat to xenon flash lamp market of emergence of substitutes in the market, which will toughen the competition around edges and might hamper the xenon flash lamp market as well.
The global xenon flash lamp market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to be the largest market over the coming years in response to the increase in its market share.
Major players analyzed include Excelitas Technologies, Hamamatsu Photonics, Heraeus, PerkinElmer, Sugawara Laboratories, Ushio America, AcalBFi, Xenon Corporation, and Sarspecand.
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COVID-19 impact
The global market for xenon flash lamp is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of xenon flash lamp, which negatively impact the market growth.
However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
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